Dan Ivascyn, PIMCO’s Group Chief Investment Officer, leveraged the firm’s scale to negotiate favorable terms on a $16 billion financing package for Oracle’s data center campus in Saline Township, Michigan. PIMCO anchored roughly $10 billion of the $14 billion debt tranche, with the remaining equity coming from Related Digital and Blackstone-affiliated funds, while Bank of America served as the structuring agent. The facility is purpose-built for Oracle’s operations and strengthens its partnership with OpenAI, providing lenders with contractual demand rather than speculative capacity. This financing validates AI infrastructure as a creditworthy asset class at massive scale.
Source: Read the original article
